The test work was done by B2Gold (TSX:BTO) on two samples of around 23kg taken from the La India vein, which each produced an average head grade of 12.1g/t gold and average metallurgical gold recoveries of 95.4%.

Condor said the gold recoveries were better than previous metallurgical sampling compiled for the 2014 preliminary feasibility study, which used material from drill core from the La India and America veins.

Chairman and CEO Mark Child thanked B2Gold for carrying out the test work at laboratories at both its El Limon and La Libertad mines and said the work showed La India's ores could be processed at B2Gold's processing plants, or a similar processing plant.

"It is invaluable to conduct metallurgical test work at two nearby producing gold mines whose laboratories are set up to replicate the metallurgical recoveries at the mines. It assists Condor in deciding on a final mine design and metallurgical process as the La India project progresses to the construction phase," he said.

Condor's shares increased 2.6% Monday morning to 18.48p (US24.16c), although this was 48.7% lower than levels seen six months ago.